[UK] Last Christmas...

After more than three decades at the firm, Nick is retiring from the partnership, but fortunately for us and for our clients, he will be returning in the new year on a consultancy basis, continuing to advise on the biggest leasing deals in London.

We took this opportunity to reflect with Nick on some of his most memorable experiences at the firm.

Nick, as you come to the end of this chapter of your career, what are you most proud to have achieved for your clients?

I quite like shiny new things.  The new underground station at Battersea Power Station took 14 years of legal work with many twists and turns along the way but it's marvellous to see the progress that's been made at Battersea over the years.  I'm also very happy with the reinvention of Broadgate which we've worked on since 2017.  It's been a succession of major developments and refurbishments at one of London's premier office locations.

During your years of practice, what have been the most significant developments in the real estate market?

It’s been difficult to watch the rocky road that retail has had over the last 15 years.  When I began my career large retail assets were a jewel in the crown of many portfolios but underlying structural shifts in retails behaviours have resulted in a lot of difficulty.  It is good to see certain types of retail assets fighting back and creating some good value again.

What do you think the next few years hold for the office lettings market?

It is an interesting time for offices; the last few years have certainly seen a divergence between prime and secondary assets, but my sense is both are going to do well in the coming years.  The benefits of office working (versus working from home) are becoming apparent and the choice now available (both in quality and price) to occupiers is becoming more marked

What technological developments have made a real difference to the ways in which you work over the years?

I started working before email was a thing, so email (and mobiles) has certainly been the key driver for changes in working practices.  As to AI, my sense is we’re currently in the initial “hype” phase and we're not yet at a point where the full potential of AI to the legal practice has been clarified.  That said, I do think in the long-term AI will have a very material impact; but it won't replace the need for a good lawyer in the room.

Aside from the legal work that you've been involved in at HSF Kramer, are there any developments in the life and culture of the firm that you're particularly pleased to have been involved with?

When I was a trainee, over half of my intake were women, but the percentage of women in the partnership was under 12%. That continued for a number of years, but I’m very happy that the profession has finally woken up and things are now changing materially for the better.  It makes for a much healthier and more creative workplace.

How do you plan on celebrating your retirement?

I’m not sure if it will be a celebration… but I’m off to Australia to watch the Ashes.  When I’m back, I’m aiming to get my golf and real tennis handicaps down as well as doing some big leasing deals and spending time teaching our junior lawyers what the Landlord and Tenant (Covenants) Act 1995 says..